Episode Details

Happy Saturday, everybody!

Mortgage rates just climbed to a 13-month high, the IRS changed the 1099 threshold to $2,000, and I finally answered the question I get asked more than almost any other: do you owe a dead relative's credit card debt? We also got into what financial confidence really means, the framework I use with clients to give every dollar a job, and a conversation with a finance coach about money and marriage that hit closer to home than I expected.

I'm Ralph Estep Jr., a licensed public accountant with 30 years in the business, and I'm joined by my cohost Juliet. We're live every Monday through Friday from 11:30 AM to 12:30 PM Eastern on Becoming Financially Confident.

Here's what we got into this week:

• Reminded everyone about two live class action settlements, Google Play and O'Reilly Auto Parts, both with deadlines this month
• Broke down why the 30-year mortgage rate climbed to 6.71%, the highest it's been in over a year
• Walked through the new 1099 rule. Clients only have to send you one if they paid you $2,000 or more, up from $600, and that does not mean the income is tax free
• Answered the question I get asked constantly about inherited debt. If you're just an authorized user on a card, you are not responsible for what's owed after someone passes away
• Gave you my money move of the week: add a PIN to your phone carrier account and turn on two-factor authentication on your bank and email before someone can hijack your number
• Got into what financial confidence actually means, starting with a Federal Reserve stat that stopped me cold, 12% of adults couldn't cover a surprise $400 expense
• Laid out the Dollar Job Framework, the seven-step process I use with clients (dream, define, discover, design, deploy, debrief, develop) to give every dollar a job before it leaves your account
• Showed you the four numbers on your Explanation of Benefits, and the only one that should ever show up on a bill with your name on it
• Talked through what Turo and other car-sharing platforms actually cover, and the four questions to ask before you rent out your own car
• Explained why the price at the pharmacy counter is rarely the cheapest one, and how a free app like GoodRx can save you real money
• Got personal about the year my own marriage almost ended over money, and what changed once I actually started listening
• Welcomed Karen Hackman, a finance coach who works with couples, to talk about what 18 years of financial silence in her own marriage taught her

Got a money question? Send it to me at becomingfinanciallyconfident.com/live. Want to catch us live? Same link, Monday through Friday, 11:30 AM to 12:30 PM Eastern.

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Companies mentioned in this episode:

• Google Play
• O'Reilly Auto Parts
• Verizon
• AT&T
• T-Mobile
• GoodRx
• Turo
• Geico
• Travelers
• Allstate
• State Farm
• Amazon

Have a great weekend, everybody.